Friday, March 20, 2009

Palm’s Quarterly Loss Is Larger Than Expected - NYTimes.com

Palm struggles with a combination of the economic downturn, intense competition, and the Osborne effect

Sales in the period ended Feb. 28 fell 71 percent, to $90.6 million, from $312 million.

Palm is preparing to release its new Pre smartphone in June and hopes the model will revive plummeting sales by winning over fans of the Apple iPhone and BlackBerry, made by Research in Motion.

Palm has reported losses in the last seven quarters. The company, which introduced the pioneering Pilot device more than a decade ago, said on March 3 that sales declined because of dwindling orders for its older models.